Super Retail profit jumps despite tough retail market

Super Retail Group’s profit is up 46.1 per cent, with the company enjoying an increase in both sales and profit despite a tough retail market.

The company on Friday reported full year net profit of $55.6 million for the 12 months to June, up from $38.05 million.

Revenue rose to $1.09 billion, up 16.5 per cent the prior year.

The company declared a final dividend of 17.5 cents, fully franked.

Chief executive Peter Birtles said the company had made a solid start to the new financial year with like for like sales growth of about 5 per cent in the Supercheap Auto and BCF Boating Camping Fishing businesses.

“In the current year, we plan to open five new stores, convert two stores to Superstores and refurbish another 30 stores in our Supercheap Auto business and to open 20 to 25 stores across the Leisure Retailing division," he said in a statement on Friday.

Super Retail Group Ltd’s profit is up 46.1 per cent, with the company enjoying an increase in both sales and profit despite a tough retail market.

The company on Friday reported full year net profit of $55.6 million for the 12 months to June, up from $38.05 million.

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Chief executive Peter Birtles said the company had made a solid start to the new financial year with like for like sales growth of about five per cent in the Supercheap Auto and BCF Boating Camping Fishing businesses.

“In the current year, we plan to open five new stores, convert two stores to Superstores and refurbish another 30 stores in our Supercheap Auto business and to open 20 to 25 stores across the Leisure Retailing division," he said in a statement on Friday.